SunOpta (NASDAQ:STKL) Upgraded by StockNews.com to Hold

StockNews.com upgraded shares of SunOpta (NASDAQ:STKL) (TSE:SOY) from a sell rating to a hold rating in a research note released on Thursday.

SunOpta Stock Up 0.9 %

Shares of NASDAQ STKL opened at $6.42 on Thursday. The company has a market capitalization of $766.16 million, a price-to-earnings ratio of -4.22 and a beta of 1.83. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.27 and a quick ratio of 0.61. The business has a 50-day moving average of $6.18 and a two-hundred day moving average of $5.90. SunOpta has a 1 year low of $2.79 and a 1 year high of $7.59.

SunOpta (NASDAQ:STKL) (TSE:SOY) last posted its earnings results on Wednesday, August 7th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.01. SunOpta had a positive return on equity of 6.51% and a negative net margin of 23.23%. The business had revenue of $171.00 million during the quarter, compared to the consensus estimate of $159.95 million. During the same period in the previous year, the business earned ($0.03) EPS. The business’s quarterly revenue was down 17.7% on a year-over-year basis. On average, analysts forecast that SunOpta will post 0.14 earnings per share for the current fiscal year.

Institutional Trading of SunOpta

Several institutional investors and hedge funds have recently made changes to their positions in the company. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of SunOpta by 1.1% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,064,115 shares of the company’s stock valued at $27,346,000 after purchasing an additional 56,560 shares during the last quarter. Hodges Capital Management Inc. lifted its holdings in shares of SunOpta by 11.2% in the 2nd quarter. Hodges Capital Management Inc. now owns 3,198,624 shares of the company’s stock valued at $17,273,000 after purchasing an additional 323,397 shares during the last quarter. Granahan Investment Management LLC lifted its holdings in shares of SunOpta by 1,291.2% in the 4th quarter. Granahan Investment Management LLC now owns 2,393,790 shares of the company’s stock valued at $13,094,000 after purchasing an additional 2,221,718 shares during the last quarter. Blair William & Co. IL increased its position in SunOpta by 77.0% in the 1st quarter. Blair William & Co. IL now owns 1,971,345 shares of the company’s stock valued at $13,543,000 after acquiring an additional 857,603 shares during the period. Finally, Marshall Wace LLP increased its position in SunOpta by 116.3% in the 2nd quarter. Marshall Wace LLP now owns 1,396,724 shares of the company’s stock valued at $7,542,000 after acquiring an additional 751,126 shares during the period. 85.39% of the stock is owned by hedge funds and other institutional investors.

SunOpta Company Profile

SunOpta Inc engages in manufacture and sale of plant-based and fruit-based food and beverage products in the United States, Canada, and internationally. The company provides plant-based beverages utilizing oat, almond, soy, coconut, rice, hemp, and other bases under the Dream and West Life brands; oat-based creamers under the SOWN brand; ready-to-drink protein shakes; and nut, grain, seed, and legume based beverages; packaged teas and concentrates; and meat and vegetable broths and stocks.